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Mark Zuckerberg’s personal wealth fell by more than US$6 billion (AED 22 billion) in a few hours. After a whistleblower stepped forward, he dropped one from the list of the richest people in the world. Grade. The power outage caused Facebook’s flagship product to go offline.
The sell-off caused the social media giant’s share price to plummet by 4.9% on Monday and has fallen by about 15% since mid-September.
The fall in stock prices on Monday brought Zuckerberg’s worth to US$121.6 billion (AED 446 billion), ranking fifth below Bill Gates in the Bloomberg Billionaires Index.
According to the index, he dropped from nearly 140 billion U.S. dollars in a few weeks.
On September 13, The Wall Street Journal began publishing a series of stories based on internal file caching, revealing Facebook knows all kinds of problems And its products—such as Instagram’s damage to teenage girls’ mental health and misinformation about the Congressional riots on January 6—while downplaying these issues in public.
These reports caught the attention of government officials, and on Monday, the whistleblower revealed his identity.
In response, Facebook emphasized that the problems facing its products, including political polarization, are complex and not just caused by technology.
Nick Clegg, Facebook’s vice president of global affairs, told CNN: “I think it is comforting to assume that there must be technology or a technical explanation for the political polarization in the United States.”
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